Falling Liquidity And Intermarket Relationships Wrecking Havoc on Markets. AIA Weekly 9-24-22

As Stan Druckenmiller has said," “Earnings don’t move the overall market; it’s the Federal Reserve Board… focus on the central banks, and focus on the movement of liquidity… most people in the market are looking for earnings and conventional measures. It’s liquidity that moves markets...”~ Stan Druckenmiller

This is what we are seeing and it will continue until central banks pause and go back into a new liquidity cycle.